A VC: Musings of a VC in NYC
SEPTEMBER 26, 2019
As I said in this post , I am generally a “one share one vote proponent”, but I have supported founder control provisions in a few companies where I was or am on the board. The founder had a 10:1 supervoting provision and controlled a majority of the board seats. But I can only imagine that WeWork was running out of cash and needed funds from its existing investors and the founder had to cede all of that to keep the company afloat.